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China National Software: H1 Revenues May Halve
China National Software & Service (600536.SH) estimates that its net profits in the first half of this year may drop by more than 50% compared to profit of RMB 21.01 million in the year-ago period, the company announced July 9. According to the announcement, the drop is attributable to lowered profitability of its outsourcing business due to economic downturn. In April, the company estimated first quarter profits would drop more than 50% annually after it increased investments in marketing and in research and development.
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